Another Sunnyside corner will get shiny new retail space next year.
GM Development is planning on renovating a cinderblock industrial building just off of Chaffee Park into a new 7,600-square-foot office and retail building. GM principal Ben Gearhart said the plan is to move his firm, Capital Works Mortgage, into the office space and lease the rest to a new liquor store and a restaurant.
“It’s a hybrid of location, it’s obviously a gentrifying neighborhood, but this building also gave us the ability to have parking,” Gearhart said. “We own some properties on Tennyson Street as well, but we thought parking would be much more of an issue there.”
Gearhart heads up GM Development with partner Charles Moore, who is also a fellow principal at Capital Works Mortgage. The $3 million project will take place at 4402 Umatilla St., a 0.27-acre plot Gearhart said his firm has a contract to buy.
Paul Clark Masonry operates out of a 4,200-square-foot, mural-covered brick building on the site. Clark also owns the real estate, though Gearhart said they plan to close a sale on the property in October, pending a rezoning case moving through city offices.
Gearhart’s plans call for about 3,000 square feet of office space. The rest of the indoor space will be leased to a retail and restaurant tenant.
Gearhart said he’s in talks with an established restaurateur to take the restaurant space on the building’s west side. He plans to bring an upscale liquor store to a retail space on the east side.
GM Development will renovate the building with touches including new glass storefront windows on the all-brick building, roll-up garage doors for the retail tenants and a rooftop patio.
“This one is a really nice, existing brick building,” he said. “It just needs some renovations.”
Gearhart plans to start construction in early 2017, with move-in sometime in the spring. Dave Marquez of MmD Architecture is designing the building and FirstBank will likely finance the construction, Gearhart said.
GM Development is still choosing general contractors for the project.
Gearhart’s restaurant will be at least the second new eatery on the block by the time it opens. The Monkey Barrel is relocating to a spot at 4401 Tejon this summer from its previous location on Platte Street.